XTX Topco Ltd Takes $947,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

XTX Topco Ltd purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,971 shares of the biopharmaceutical company’s stock, valued at approximately $947,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of PTC Therapeutics by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock worth $270,546,000 after acquiring an additional 380,415 shares during the last quarter. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after purchasing an additional 568,171 shares during the period. RTW Investments LP grew its position in PTC Therapeutics by 2.6% during the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock worth $204,605,000 after purchasing an additional 188,774 shares during the last quarter. Armistice Capital LLC increased its stake in PTC Therapeutics by 11.6% in the fourth quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock valued at $189,172,000 after purchasing an additional 714,000 shares during the period. Finally, Cowen AND Company LLC raised its holdings in shares of PTC Therapeutics by 0.8% in the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock valued at $114,873,000 after buying an additional 30,843 shares during the last quarter.

PTC Therapeutics Trading Up 1.3 %

Shares of PTC Therapeutics stock opened at $36.64 on Friday. The company has a 50-day moving average of $33.41 and a two-hundred day moving average of $32.43. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $40.69. The stock has a market cap of $2.81 billion, a PE ratio of -4.77 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -5.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on PTCT. Morgan Stanley raised their price target on PTC Therapeutics from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a report on Thursday, June 20th. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Bank of America boosted their price objective on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research note on Friday, June 21st. Finally, Barclays raised their target price on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $37.64.

Insider Activity

In related news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now directly owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.